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RIL has reported a consolidated net profit of Rs 19,299 crore ($2.58 billion) in Q4FY2023, up 19% YoY, mainly due to higher other income and lower taxes. However, revenue grew only 2% YoY to Rs 2.16 lakh crore ($28.86 billion), slightly lower than the estimated Rs 2.22 lakh crore ($29.63 billion). Highlighting its potential, the company gave a positive outlook across the oil, gas, retail, and telecom segments.

Despite the highest inflation in 4 decades, slowing growth, and heightened geo-political tensions, gold’s performance in 2022 has disappointed many investors, writes Ravindra V.Rao, CMT, EPAT

While the RBI acquired dollars in the spot market, its outstanding net forward purchases of the dollar reduced in February, implying that the central bank took advance delivery of its forward positions, analysts said.

The dollar-rupee forward premia, which indicates the India-US interest rate differential, has dropped significantly due to a pause in local tightening rates and expectations of further increases by the US Federal Reserve. While this drop may lower hedging costs for importers, it reduces incentives for exporters to sell dollars as their returns decline. This decline could lead to a compression in the rate differential between the two countries and reduce the relative appeal of domestic assets for overseas investors. This could also lead to potential unwinding of dollar short positions by carry traders.

Affordable Robotic and Automation shares have given multibagger returns to investors in the last six months, rising over 100%. As of March 2023, Vijay Kedia and his firm Kedia Securities hold a combined stake of 13.30%, up from 12.25% in September 2022.

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Amidst rising gold prices, purchases of actual gold in the form of coins, bars, and jewelry remain the most preferred option for Indians during Akshaya Tritiya celebrations, the sign of prosperity and seasonal buying. Investors could look to buy gold with purity and price kept in mind. Investing in gold can serve as a hedge against inflation and uncertainties and remains attractive for all categories of investors. The outlook for gold remains dependent on the stance of the US Federal Reserve, with any rate hike potentially lowering the appeal of the yellow metal.

Reliance Industries has surprised analysts by reporting a 19% YoY rise in its Q4 net profit, with a consolidated operating profit of Rs 41,389 crore. The figures were helped by high other income and lower taxes, as consolidated revenue only rose 2% YoY to Rs 2.16 lakh crore, lower than the estimated Rs 2.22 lakh crore.

Quarterly ARPU, a key performance parameter, improved marginally to Rs 178.8 from 178.2 in the third quarter, due to impact of tariff hike, better subscriber mix and data add-ons within select customer cohorts, the company said. It exceeded the Street estimate of Rs 178.2.